Research Abstracts Online
January
2008 - March 2009

University of Minnesota Twin Cities
Curtis. L. Carlson School of Management
Department of Finance

PI: Robert S. Goldstein

Endogenous Technological Progress and Stock Returns

These researchers have finished their analysis of technological progress driven by research and development (R&D) investment and stock returns at the aggregate level. They are now extending their research along two directions. One is to look at R&D investment and consumption in a general equilibrium model. In this way they can quantitatively explore the relations between technological progress driven by R&D and consumption. Another direction is to extend the research to cross section firms. They are also trying to solve a general equilibrium model with multi firms in order to investigate the relation between aggregate consumption and heterogeneous firms.